Answer to Question #331020 in Management for Jack Patz

Question

Ram and Kush are both Ph.Ds in Chem.engg & both have put in more than 15yrs in Pharm. industry. They decided to leave their jobs and open a small company of their own. Accordingly, they took a bank loan and using their contacts, tied-up with another big pharma company to conduct research on their behalf. Initially they recruited five qualified chemists and later as the business grew they recruited more lab. staff, accountants & other people.Their business grew and by the end of five years they were well established and by that time they had eighteen people on their rolls. The break-up of their staff strength was as 3Senior Researchers (all Ph.Ds), 5Research Associates , 5 Assistants (Science Grad, 3Accountants & 2Clerks

However, as there was no regular pay structure, there was wide disparity in the pay drawn by different employees. To rectify this situation, both Ram and Kush decided to conduct a Job Evaluation study. In your opinion, which Job Evaluation method would be most suitable in this case